SANTA MONICA, Calif., Feb. 1, 2011 /PRNewswire/ -- TrueCar.com , the authority on new car pricing, trends and forecasts, estimated today that the average transaction price for light vehicles in the United States was $29,350 in January 2011, down $162 (0.5 percent) from January 2010 and up $73 (0.2 percent) from December 2010.
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"Transaction prices dropped slightly in January as consumers purchased a relatively higher percentage of small cars and compact SUVs," said Jesse Toprak, VP of Industry Trends and Insights for TrueCar.com. "If gas prices continue to rise, transaction prices could continue to decline, as consumers tend to shift purchases to smaller, more fuel-efficient vehicles."
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Transaction Pricing Forecast |
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Manufacturer |
January 2011 Transaction Price |
December 2010 Transaction Price |
January 2010 Transaction Price |
Percent Change January 2011 from January 2010 |
Percent Change January 2011 from December 2010 |
|
|
Chrysler |
$28,894 |
$28,579 |
$28,210 |
2.4% |
1.1% |
|
|
Ford |
$31,839 |
$31,622 |
$31,861 |
-0.1% |
0.7% |
|
|
GM |
$34,067 |
$34,668 |
$34,034 |
0.1% |
-1.7% |
|
|
Honda |
$24,912 |
$24,869 |
$25,103 |
-0.8% |
0.2% |
|
|
Hyundai |
$20,680 |
$20,539 |
$20,006 |
3.4% |
0.7% |
|
|
Kia |
$18,677 |
$18,595 |
$18,546 |
0.7% |
0.4% |
|
|
Nissan |
$27,366 |
$27,064 |
$27,263 |
0.4% |
1.1% |
|
|
Toyota |
$25,221 |
$25,048 |
$25,675 |
-1.8% |
0.7% |
|
|
Industry |
$29,350 |
$29,277 |
$29,512 |
-0.5% |
0.2% |
|
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In addition, TrueCar.com estimated that the average incentive for light-vehicles was $2,576 in January 2011, up $34 (1.3 percent) from January 2010 and down $66 (2.5 percent) from December 2010.
"Hyundai continues to take the automotive industry by storm. They now spend the least amount on incentives per unit out of all major manufacturers helping improve their transaction price, while increasing market share," said Toprak.
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Incentive Spending Forecast |
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Manufacturer |
January 2011 Incentives |
December 2010 Incentives |
January 2010 Incentives |
Percent Change January 2011 from January 2010 |
Percent Change January 2011 from December 2010 |
|
|
Chrysler |
$3,557 |
$3,759 |
$3,460 |
2.8% |
-5.4% |
|
|
Ford |
$2,641 |
$2,686 |
$2,717 |
-2.8% |
-1.7% |
|
|
GM |
$3,089 |
$3,226 |
$3,164 |
-2.4% |
-4.2% |
|
|
Honda |
$2,074 |
$2,212 |
$1,430 |
45.0% |
-6.2% |
|
|
Hyundai/Kia |
$1,727 |
$1,572 |
$2,105 |
-18.0% |
9.9% |
|
|
Nissan |
$2,763 |
$2,808 |
$2,989 |
-7.6% |
-1.6% |
|
|
Toyota |
$2,179 |
$2,245 |
$1,585 |
37.5% |
-3.0% |
|
|
Industry |
$2,576 |
$2,642 |
$2,542 |
1.3% |
-2.5% |
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About TrueCar
TrueCar is the authority in new car prices. We show car buyers and car dealers how much people actually paid for a particular car in a specific local area. With TrueCar pricing, both new car buyers and new car dealers can know at any time what is considered a good or great price on a new car. Consumers no longer need to walk into a dealership partially informed and fully suspicious – using TrueCar they walk in knowing the price of a fair deal. Dealers benefit by TrueCar's real-time, unbiased information about marketplace pricing, helping them price cars for increased sales, and ultimately gaining market share over other dealers. Our innovative new car pricing service is offered free of charge on our website at www.truecar.com, on our mobile site at mobile.truecar.com, and via syndication of our tools and pricing data to leading automotive research sites throughout the web.
About TrueCar Data
TrueCar obtains data directly from numerous sources including automotive dealers, technology companies, data aggregators, and analytics companies within the automotive space. We also acquire vehicle configuration data, customer and dealer incentives data, financing and loan data, vehicle registration and insurance data, and much, much more. TrueCar is insatiable about data with our goal to find 100% of all purchase transactions, even if that means finding the same transaction multiple times from multiple sources within the car-buying ecosystem. Our data is among the most timely and comprehensive in the industry, as we are able to process most car sales within a week of the actual sales date, and have a substantial fraction on the site within 48 hours of the actual sale. TrueCar believes the greater our informational accuracy, the greater benefit we provide to both dealers and consumers.
Disclaimer
This press release and the information contained herein is for noncommercial use on "as-is, as available" basis and may be used for informational purposes only. TrueCar makes no representations or warranties, express or implied, with respect to the information contained in this press release and the results of the use of such information, including but not limited to implied warranty of merchantability, fitness for a particular purpose and non-infringement. The information contained in this press release may include technical inaccuracies or typographical errors. Neither TrueCar nor any of its parents, subsidiaries, affiliates or respective partners, officers, or directors, employees or agents shall be held liable for any damages, whether direct, incidental, indirect, special or consequential, including without limitation lost revenues or lost profits, arising from or in connection with your use or reliance on the information presented in this press release.
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Jesse Toprak
SOURCE TrueCar.com